DUMAGUETE CITY, Negros Oreintal, July 17 (PIA) -- Recognizing the significant contribution of micro, small, and medium enterprises (MSMEs) toward economic growth and development, the local government of Dumaguete City is eyeing to assist the informal economy's move to formal business sector.

With this, the Department of Trade and Industry (DTI), Dumaguete City government, and Negros Oriental Chamber of Commerce and Industry (NOCCI) signed a memorandum of agreement to formalize its assistance during the launching of Negros Oriental Trade Fair, Create Fest, and Coffee Fest at Robinsons Place Dumaguete from July 14-20, 2023.

“We forged an agreement to formally train and rationalize our underground economy and transition into formal economy," said Dumaguete City Mayor Felipe Antonio Remollo. 

The government intends to organize and capacitate the informal sector to enhance their entrepreneurial skills so they will be economically productive.

The mayor also pledged to provide a space or lot for free for the One-Town-One-Product (OTOP) Center in the city to support the MSMEs.

The products and services to be offered in the OTOP hub are those that the city and province are best known for.

Remollo hopes to accommodate all locally-made products from any parts of the province to be showcased and at the same time provide employment for the residents.

The event is part of the celebration of MSME Week to develop and strengthen MSMEs through convergence and expand the market of specific industries, alignment and collaboration among the private sector, corporate partners, local government units, and other national government agencies in the province. (JCT/PIA7 Negros Oriental)